Global tech stocks plunge over fears of AI curbs in US

On November 5, 2026, U.S. stocks experienced significant declines following the midterm elections, with the Nasdaq plunging into correction territory by falling 5.1%, its worst day in over a year and half. The Dow Jones Industrial Average dropped by about 1,200 points, reversing most of the gains it saw from the previous day when it soared more than 1,500 points due to midterm election results. Tech-heavy stocks, particularly those related to artificial intelligence (AI), were hit hardest as investors feared stricter regulations under a new Democratic-controlled Congress. Notably, shares in companies like OpenAI and Meta dropped sharply, while SpaceX's stock also fell significantly. The sell-off extended globally by November 6, with Asian markets such as Tokyo and Seoul experiencing losses.